Vanguard, a investment management company, recently announced that Chairman and CEO Tim Buckley will retire by the end of the year.
Buckley joined Vanguard in 1991 as a research assistant. In 2001, he became a member of the senior leadership team. He was named CEO in 2018 and chairman in 2019.
“It has been an absolute privilege to lead Vanguard and help advance the company’s mission of giving clients the best chance for investment success,” Buckley said. “Today, Vanguard is poised to seize the opportunities of the future while continuing to deliver for our investor-owners.”
The board of directors is in the process of selecting a new CEO.
In addition, Chief Investment Officer Greg Davis has been appointed president of the firm, effective immediately. Davis joined the company 24 years ago. He became CIO and global head of Vanguard Investment Management Group in 2017 where he oversees $8 trillion in global assets managed by Vanguard’s fixed income, equity index, and quantitative equity groups.
Davis also is a member of the Treasury Borrowing Advisory Committee of the U.S. Department of the Treasury and the Federal Reserve Bank of New York Investor Advisory Committee on Financial Markets, and is Children’s Hospital of Philadelphia board of trustees vice chairman.